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Benzinga
Benzinga
Politics
Anusuya Lahiri

Here's How Apple Defended Its App Store Policies

Apple App Store Nasdaq AAPL United States Alphabet Inc BofA Meta Europe Japan
  • Apple Inc (NASDAQ:AAPL), facing mounting criticism of its App Store policies, has defended the platform citing the small-business jobs and revenue it generates, Bloomberg reports.
  • The App Store is under intense scrutiny from government officials in the U.S. and Europe, which also have been after Meta Platforms Inc (NASDAQ:FB) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). 
  • Also Read: BofA Lists Reasons For Its Bullishness On Apple
  • An Apple commissioned study found developers who earned under $1 million from the App Store annually saw total revenue rise 113% over two years starting in 2019. That number reached 118% in the U.S., though it was lower in some countries like the U.K. and Japan.
  • The study found that the App Store supported 2.2 million jobs in the U.S. More than 90% of developers were considered small businesses. 
  • Apple typically charges a 30% fee, but developers who enroll in the company’s small-business program pay 15% since 2020.
  • Price Action: AAPL shares traded lower by 0.60% at $139.55 on the last check Wednesday.
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